Business

Rapacity as the driving force of colonialism and capitalism

Published

3 years ago

2023/11/7

Sahan Weerasooriya

Book Review

Title – Savage Beasts
Author- Rani Selvarajah

Publisher – One More Chapter; a division of HarperCollinsPublishers

Within the pages of this memorable novel, ‘Savage Beasts’, by Sri Lankan-origin Rani Selvarajah, a University of Cambridge product, living and working in Great Britain, is an exhilarating narrative of the rapacious greed that drove the British colonial project in its early centuries. Essentially, it is a creative writer’s account of how the global South or East came to be pillaged and reduced to penury by its colonial overlords, although it is presented to us in the form of a gripping story.

As could have been expected, we don’t have in the novel a detailed, prosaic historical account of how parts of the ‘Third World’ came to be subjugated by the Western colonial powers, such as the Dutch and the British, in the mid-eighteenth century; for that is the century in focus. Rather, what we have narrated very engagingly in ‘Savage Beasts’, is an amorous tie that descends into mutual animosity between a Calcutta-based Indian Princess and a handsome young British sailor, with strong blood connections to the ruling hierarchy of the invading British East India Company (VOC), the precursor of full-blown British rule in the East. The relationship starts with a heart-warming romance and ends in betrayal, deceit, thievery, murder and destitution.

The central action in the novel traverses India, Ceylon, South Africa and Britain. The princess, Meena, is duped by the sailor, James, into running away with him from her kingdom in Bengal where her father, the Nawab of Bengal was the ruling despot, to Ceylon, South Africa and lastly Britain, where James’ cruel machinations to use Meena to achieve his material and power ambitions are laid bare.

It is finally revealed that James was mainly interested in wresting from Meena, the Nawab’s military plans to defend his kingdom against the invading British, and to sell these secrets to the British East India Company, which was headed by James’ uncle, the coldly calculating Sir Peter Chilcot, who becomes a symbol of imperial rule in the East in all its harshness and exploitative greed.

Although a ruthless ruler, whose fixation too was power, we are compelled to agree with the Nawab in his assessment of James, when he tells Meena at page 104, early in the story: ‘That man is a charlatan. You may not be able to see it, but he is. All of them are. They come here, treating us like fools, taking what they can at the point of a gun. Traders, merchants. They like to call themselves businessmen when they’re just pirates who think they can make demands of kings.’

The Meena-James relationship at the heart of ‘Savage Beasts’, therefore, becomes an ‘objective correlative’, as it were, if we are to borrow a concept from renowned English poet and literary critic T.S. Eliot, for the central theme in the novel, which is the ruination and impoverishment of its colonies by the British colonizer. That is, the romance and its gradual degeneration into a relationship of mutual hate between the main protagonists becomes a tangible symbol of the novel’s main theme.

The ruination of India by the British colonizer does not take the form of only the physical subjugation and economic exploitation of the ‘Jewel in the Crown’ of the British monarch. It takes the form also of the brazen robbing and pillaging of everything of cultural and spiritual importance to India, including, of course, its dignity.

The episode that bears this out in the novel arrives in its closing chapters when Meena, who is inveigled by James into accompanying him to England, finds to her horror that all the important cultural treasures in her father’s palace had been robbed and stowed away in James’ uncle’s mansion, that is, the VOC chief’s residence. Prior to such pillaging, the Nawab had been savaged by the invaders and left to die on a Calcutta street, we are given to understand.

‘Savage Beasts’ ends on the tragic note of Meena being rendered homeless and destitute. However, she enjoys the satisfaction of exacting ‘blood revenge’ from James, by killing the influential English woman he intended to marry after deserting her. Meena, however, is deeply comforted by the fact that she retains possession of the son, her liaison with James yielded. The enduring mother-son bond, we could say, is the ‘universal in the particular.’

Besides its thematic substance, ‘Savage Beasts’ is also notable for its smoothly flowing and gripping story line. Bolstering its literary merit further is its dramatic and evocative prose style. It is a novel that calls for close and sustained literary appraisal.

– Lynn Ockersz

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Business

Janashakthi Life delivers 36% revenue growth, ‘outperforming the industry’

Published

5 hours ago

2026/09/3

Sahan Weerasooriya

Janashakthi Life, the flagship company of JXG (Janashakthi Group), delivered a strong first-half performance in 2026, with Gross Written Premiums (GWP) increasing by 36% year-on-year to Rs. 5.11 billion. The Company’s growth significantly outpaced the industry’s 20.8% growth during the period, reflecting continued demand for its life insurance solutions and progress in expanding its customer base and strengthening its market presence.

The Company’s balance sheet also continued to expand, with total assets increasing to Rs. 41.14 billion as at Q2 2026, compared to Rs. 40.37 billion at the end of 2025. The growth reflects the continued scale of the business and provides a stronger platform to serve an expanding policyholder base while investing in the capabilities required to support its next phase of growth.

During the first half, Janashakthi Life paid Rs. 2.24 billion in claims and benefits, reaffirming its commitment to supporting policyholders when it matters most. These payments provide essential financial support at critical moments in the lives of individuals and families, highlighting the vital role of life insurance in protecting their financial wellbeing and long-term security.

The Company remained profitable during the period, recording Profit Before Tax (PBT) of Rs. 271 million, excluding the surplus transfer for the period. With the declaration of the surplus transfer, profitability is expected to be substantially higher. Janashakthi Life remains focused on strengthening earnings quality, managing costs effectively, and translating business growth into sustained improvements in overall performance.

Annika Senanayake, Chairperson of Janashakthi Insurance PLC, said, “The performance in the first half reflects the strength of Janashakthi Life’s business and the opportunities that exist to further develop the life insurance market in Sri Lanka. We remain focused on building a business that combines sustainable growth with sound fundamentals, while making insurance more accessible to a wider segment of the population. As part of JXG, Janashakthi Life is well positioned to leverage the Group’s financial services ecosystem and continue strengthening its position in the market.”

Ravi Liyanage, Director/CEO of Janashakthi Insurance PLC, said, “The first half delivered strong growth across key areas of the business, with GWP increasing 36% to Rs. 5.11 billion. In all key segments, namely regular business, group life business and single premium business, the Company has outperformed the industry significantly, demonstrating its market challenger behaviour. The Company is strengthening its stability, crossing LKR 41 billion in assets under management. Our focus now is on building on this momentum through stronger distribution, improved productivity and disciplined cost management, while continuing to enhance the customer experience by providing an unmatched service throughout the lifespan of the service contract.”

The first-half performance provides a strong platform for Janashakthi Life to build on its growth plans for the remainder of the year. The Company will continue to focus on expanding access to life insurance, strengthening customer relationships and developing solutions that respond to changing financial priorities.

With GWP growth significantly ahead of the industry, a growing asset base and increased claims and benefits delivered to policyholders, Janashakthi Life continues to build scale across its core operations. The Company remains focused on disciplined growth, stronger execution and improving the quality of its performance, with the objective of creating sustainable value for policyholders, shareholders and the wider business.

Further reinforcing its strong market standing, Janashakthi Life was recognised among Sri Lanka’s 50 Best Workplaces™ for 2026 by Great Place To Work® Sri Lanka and was also named among Brand Finance’s Sri Lanka 100 Most Valuable Brands. These recognitions reflect the Company’s continued focus on building a strong brand, delivering value to customers and creating a high-performing organisation. (JXG)

Business

Hunas Holdings and CCH enter strategic collaborative partnership

Published

5 hours ago

2026/09/3

Sahan Weerasooriya

(L-R): Dhanuka Samarasinghe (Chairman - Hunas Holdings PLC) Yoshihiko Tanabe, Director CCH

Major Japanese business group sees long-term potential in Hunas Holdings as the two organisations explore new opportunities for growth in Sri Lanka

Hunas Holdings PLC is entering a new phase of growth through a collaborative partnership with CCH Co., Ltd. (CCH INC.), a major Tokyo-based business group with experience across business process outsourcing (BPO), in-house services, investment, mergers and acquisitions, and business development.

The partnership follows a period in which Hunas Holdings maintained a measured approach to new investments amid volatile market conditions, focusing on identifying the right opportunities and international relationships capable of creating sustainable long-term value.

Founded in Japan in 2008, CCH has grown into a significant and diversified business group with interests across multiple industries. Its approach combines investment with M&A, business development and operational expertise, enabling the company to play an active role in the businesses and markets it enters.

For CCH, the partnership represents an opportunity to bring this experience to Sri Lanka through Hunas Holdings, an established local group with a strong platform and long-term growth ambitions.

Yoshihiko Tanabe, Director of CCH Co., Ltd., said: “Through our discussions with Hunas Holdings, we see a company with strong foundations, local expertise and a clear ambition for growth. We believe there is meaningful potential in bringing the strengths of CCH and Hunas Holdings together. I am excited about this partnership, and particularly about some of the projects and opportunities we are already exploring together. There is much to look forward to soon”

For Hunas Holdings, the collaboration marks a renewed chapter of investment and international partnership, while for CCH, it reflects confidence in Hunas Holdings and the opportunities presented by the Sri Lankan market.

Business

Prime Minister to headline Sri Lanka Economic and Investment Summit session

Published

5 hours ago

2026/09/3

Sahan Weerasooriya

Dr Harini Amarasuriya

Dr. Harini Amarasuriya, Prime Minister of Sri Lanka, will deliver the keynote address at a special session on day 2 of the Sri Lanka Economic & Investment Summit 2026 organised by The Ceylon Chamber of Commerce, titled “Nation Building in the Digital Age”, on 13 October 2026 at the Shangri-La Colombo.

The session will examine how Sri Lanka can use artificial intelligence, digital transformation, innovation and education to accelerate economic growth, improve productivity and build a knowledge-driven economy. As technology reshapes industries and the nature of work, the discussion will focus on how Sri Lanka can develop the capabilities needed to remain competitive and create opportunities for future generations.

The Prime Minister will be joined by Waruna Sri Dhanapala, Secretary, Ministry of Digital Economy; Prof. Roshan Ragel, Senior Lecturer in Computer Engineering, University of Peradeniya; and Sanjay Shah, Founder and CEO, Elevante AI, who together will add perspectives from government, academia, and industry. Vinod Hirdaramani, Chairman of Hirdaramani Group and Deputy Vice Chairperson of The Ceylon Chamber of Commerce, will moderate the session.

The discussion will look at the opportunities and challenges presented by emerging technologies, including artificial intelligence and automation, and their potential to transform industries and create new areas of economic activity. It will also consider the role of digitalisation in improving public services and supporting entrepreneurship.

Education and skills development will be another important part of the conversation, particularly as the demand for new capabilities grows alongside technological change. The panel will consider how Sri Lanka can prepare its workforce for future jobs while developing an environment that supports innovation and technology-led businesses.

The session will also look beyond technology itself to the wider conditions needed for a digital economy to grow. Policy, investment, infrastructure, education and collaboration between government, industry and academia will all have a role in determining how effectively Sri Lanka can turn technological change into economic opportunity.

Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” SLEIS 2026 will offer perspectives from senior policymakers, business leaders, investors and international experts over two days of discussions on Sri Lanka’s economic direction, investment opportunities and the reforms needed to support future growth.

Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).